The Hampshire Companies Signs C&S Wholesale Grocers to 301,626 SF Lease Extension in New Brunswick, NJ
The Hampshire Companies, a full-service, private real estate investment fund manager announced an agreement with C&S Wholesale Grocers on a $10 million lease extension for a 301,626 SF industrial warehouse distribution facility located at 571 Jersey Avenue in New Brunswick, NJ.
(PRWEB) October 11, 2004 -- The Hampshire Companies, a full-service, private real estate investment fund manager with over $500 million in equity currently under management, announced an agreement with C&S Wholesale Grocers on a lease extension for a 301,626 SF industrial warehouse distribution facility located at 571 Jersey Avenue in New Brunswick, NJ. The transaction is valued in excess of $10 million.
This fully-leased investment sits on 18.4 acres within close proximity of Exit 9 on the New Jersey Turnpike. C&S Wholesale Grocers had previously leased the space, but the existing lease was due to expire on April 1, 2005. Completing this deal increases the market value of the property, providing The Hampshire Companies with a strong credit tenant and stable cash flow for the long term.
This lease extension illustrates one important aspect of the overall strategy of The Hampshire Companies, namely to efficiently and effectively manage properties within our portfolio so that they achieve maximum return for our investors," noted Norman A. Feinstein, Senior Vice President of the Hampshire Family of Funds. This transaction is just one of several that we have completed over the past few months, which have strengthened our position in several core submarkets, while having the potential to produce substantial cash flow for the Funds."
The Hampshire Companies operates through commingled, discretionary real estate investment funds. The funds are value-added, investment vehicles targeting industrial, retail and office properties located in the Mid-Atlantic and Northeast regions of the United States. The goal of each of the Funds is to deliver superior, above-market returns to its investors through the acquisition, repositioning and management of investment-grade properties.
Acquisition of quality buildings and properties that have the potential to produce substantial income for our investors is another key component of our growth strategy," notes Feinstein. We are pleased that both owners and brokers in the commercial real estate community in the Northeast continue to assist The Hampshire Funds in identifying promising acquisitions, so that we can continue to build a strong investment portfolio of quality properties that are leased to strong credit tenants."
The Hampshire Companies is a full-service, private real estate investment fund management company based in Morristown, New Jersey. The company currently owns and manages a portfolio comprising more than 15 million square feet of office, retail and industrial space primarily in the Northeastern United States valued in excess of $500 million. With over 80 years of experience in the industry, The Hampshire Companies maintains a firm focus on its mission to create and enhance value through sound investments in real estate, and consistently realizing returns that exceed industry standards. Additional information on The Hampshire Companies and its funds is available online at www.hampshireco.com.
Media Contact:
Jason Ledder
R&J Group
(973) 331-1070
Jledder@randjgroup.com
# # #
|
